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Info Purchasing a Ship

DOEVE BROKERS AND VALUERS YACHTS AND SHIPS EST. 1972

Buying a ship is a complex process where you have to take into account several issues. On this page we explain which things you need to think of and how Doeve Brokers and Valuers can support you in this process.

When you want to purchase a vessel you have to take the following in consideration:Purchasing a Yacht, Barge, Vessel, Sailing Yacht, Motor Boat, Dutch Barge or a Ship is often a very emotional event. The love for a vessel can create temporary blindness. So, before you are tempted to make an offer after the first time you have seen the vessel, we advise you to have a second look and think things over properly before you make an offer.

An offer

When you have decided to make an offer, we advise you to specify certain conditions under which your offer is made. This could be a technical survey and/or a survey of the bottom of the vessel (has to be according to the demands of the Dutch insurance companies) and, if relevant, that your offer is subject to your financing is accepted.

Memorandum of Agreement

When both parties have an agreement about the price and the conditions, the broker will draw up the Memorandum of Agreement. The Memorandum of Agreement has to be signed by both parties and when signed the Purchaser has to pay to the Broker a deposit of 15% on his Third Party (Escrow) bank account (only when that Broker is certified as a "Qualified Yacht Broker"). In case there is another agent involved, the deposit money should be paid on the quality bank account of a Nautical Notary Public of your choice.

Survey

Survey of the vessel will be the next step. You can hire a certified surveyor and instruct him whathe has to do, for example a part or a full survey of the vessel. If you want to have a complete overview of the engine(s), you have to hire a surveyor who is also doing a sea trial.

Valuation

If you need a valuation report for financing, we advise you to choose an appraiser/valuer which is certified as such and is known by your financing institution so that the appraisal or stated value will be accepted by them.

EU legislation

In case you want to purchase a vessel for inland waterways which has a length of 20 meters or more or with a water displacement of 100 m3 or more (calculated from length x width x draft excluding keel) then this vessel has to be certified under the EU legislation (TRIWV/ES TRIN). You will have to hire a special surveyor who is allowed by an EU Government to do surveys for this kind of certification.

Fundamental defects

If during the survey, in the eyes of your surveyor, fundamental defects are found which are essential items, we will act according to what has been agreed in the Memorandum of Agreement. When some problems were already known by the purchaser in advance, it is not possible to renegotiate about the price.

Disapproval

When your surveyor concludes that there are problems identified so bad that they cannot be repaired, or the quality of the vessel is such that the vessel cannot function as originally intended, the vessel will not be approved. If so, you will get your deposit back, but you still have to pay the surveyor and the yard.

Survey has been done, take over the ship

When the survey has been done and you as purchaser agree to take over the vessel in her current condition, you have to pay the remaining amount in the same way as earlier mentioned and you can take over the vessel. On that day you will have to start with a new insurance on your name.

Registration ship

If the vessel has been registered, in case of the Dutch Z-seagoing or B-inland vessels (the Registry is the registry office recording the legal title of the vessel), the name can be changed indicating you as the new owner. Be aware, not every vessel is registered. This will give extra costs for a Purchaser (Broker or Notary Public and Registration costs). In case a Purchaser wants to export the vessel that registry can be deleted. Often it is interesting for foreigners to keep the vessel registered or to do a new registration in the Dutch B-Register, such that your vessel has a Dutch flag and is able to sail through Europe without any possible problem. Our Brokers can inform you about this matter.

When a vessel has been registered in a foreign Register we are mostly able to do research in that Register about the status quo of the ownership and we can advise you how to handle.

Insurance ship

What can Doeve Brokers and Valuers do for you?

We can assist you when you want to purchase a vessel on the market, you can hire us to do everything what is necessary to get the vessel that you want to purchase. You can even hire us to look around for a specified vessel and to do all the work in advance before you come over to our country.

Doeve Brokers and Valuers is a registered Yacht and Ship Broker. All actions in the B-Ships registration process can be handled by our office at lower costs than a Notary Public. Z-registration has to be done by a Notary Public

You can hire us for appraisals, even International. We are "Qualified Appraisers".

Almost all our listings are inspected by our staff and we give straightforward information about those listings. We always issue a clear sale and purchase Memorandum of Agreement, all agreements between parties are noted in writing.

With Doeve Brokers and Valuers you have made the right choice, clarity is our motto!